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Personal criteria for finding Hammers or Bullish Piercing with long wicks or closes well off the low Rate this Topic:
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porrada
Posted : Monday, October 8, 2012 2:52:46 PM
Registered User
Joined: 3/30/2005
Posts: 73

any help would be most appreciated..

heres what i have started with............L < L1 AND C > O AND O < H1 AND L < O

this is good but doesnt give me the long wicks Im specifically trying to find

Bruce_L
Posted : Tuesday, October 9, 2012 10:24:24 AM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You may want to take a look at the Boolean PCFs for Candlestick Patterns topic instead of trying to develop your own Personal Criteria Formulas to identify candlestick patterns.

Your PCF checks for the current low to be below the previous low, the current close to be above the current open, the current open to be below the previous high and the current low to be below the current open, but it does not do anything to compare the size of the wicks to the size of either the body or total candle.

I'm not a candlestick guy at all, but I will assume from your formula that you are only checking for the bottom wick (as no comparison was made between the current high and current close). If you want this to be at least half the length of the entire candle, you could use:

L < L1 AND C > O AND O < H1 AND L < O AND O - L >= .5 * (H - L)

If you wanted it to be at least twice the length of the body, you could use:

L < L1 AND C > O AND O < H1 AND L < O AND O - L >= 2 * (C - O)

You can adjust the .5 and 2 as desired based on how big you need the wick to be in relation to the candle. If you did not already know that C > O, you would need to change:

(C - O)

To:

ABS(C - O)

And change:

O - L

To:

(O + C - ABS(O - C)) / 2 - L

PCF Formula Descriptions
Handy PCF example formulas to help you learn the syntax of PCFs!
Min Max PCFs



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
porrada
Posted : Thursday, October 11, 2012 1:21:56 PM
Registered User
Joined: 3/30/2005
Posts: 73

thanks very much Bruce..thats exactly what i was trying to capture!

Bruce_L
Posted : Thursday, October 11, 2012 1:35:14 PM


Worden Trainer

Joined: 10/7/2004
Posts: 65,138

You're welcome.



-Bruce
Personal Criteria Formulas
TC2000 Support Articles
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